Brazil minerals record massive diamond sales gain

An American mining company operating in Brazilreported that sales of its rough diamonds increased enormously over its results in the previous quarter. While MineracaoDuasBarras, the local subsidiary of Brazil Minerals sold 902 carats of the stones it recovered in 2013 Q2, it sold 1,663 carats during the most recent quarter, a whopping quarter-to-quarter increase of 84%.

Brazil Minerals has also begun to put aside a quantity of gems to sell only after it has polished them in house, according to Mining Weekly. The firm's chairperson and chief executive officer Marc Fogassa noted that the firm's diamond and gold processing operations are the largest on the South American continent, and that an incredible 95% of the diamonds it mines qualify for use in thejewelry industry.